Natixis live with Calypso Credit Derivatives
05 December 2007 | 1484 views | 0
Source: Calypso Technology
Calypso Technology, a global application software provider of an integrated trading application suite to the capital markets industry, today announced that Natixis is in production with Calypso Credit Derivatives for back office processing.
Following a rigorous consultation period in which a number of solutions were considered, Natixis chose Calypso in order to automate and grow their credit business. Since installing Calypso, Natixis has increased its volumes by 300% without the need to increase headcount.
"We were looking for a system to manage one of the fastest growing markets of our business, with specific functionality to quickly bring new products to market. Calypso met and surpassed these requirements," commented Christophe Guy, head of back office at Natixis. "The fact that we've been able to increase our capacity threefold without any additional staff is a significant efficiency gain for us and we anticipate further gains in the months ahead in support of our rapidly growing business."
Natixis leverages the seamless straight-through processing architecture of the Calypso application to drive processing of a wide range of credit trades, ranging from vanilla credit default swaps to second generation synthetic products. Within the Calypso system, once a trade has been captured, the back office engine automatically manages all post-trade processes from reporting to accounting in accordance with the company's business workflow. Instrumental to the project was the interface to the DTCC for confirmation matching and payment of credit derivative contracts. The efficiency in operations has enabled the company to significantly increase its business revenue opportunities.
"Natixis is a major player in the European banking industry, and we are pleased to see the bank achieve business growth after implementing Calypso as strategic solution for expanding and automating its credit business," concluded Charles Marston, CEO of Calypso.